Board meeting - November 2024
Unless otherwise specified, meetings will be held at the following location:
CalSTRS Board Room, 100 Waterfront Place, West Sacramento, CA 95605
Members of the public may provide public comment via telephone by calling (866) 236-6010. Board members may participate in this meeting via teleconference.
For labor dispute issues contact the General Counsel office at legalservices@calstrs.com.
Public Call LetterAll meeting times are approximate depending upon the end of the previous meeting.
November 6, 2024
Item 1 - Approval of Agenda
Session: Open | Type: Action | Presenter: Chairperson
Item 01Attachment 01Item 2 - Approval of Minutes of the September 25, 2024, Audits and Risk Management Committee – Open Session
Session: Open | Type: Consent Action | Presenter: Chairperson
Item 02Item 3 - Fiscal Year 2024-25 Audit Services Audit Activities
Session: Open | Type: Consent Information | Presenter: Chairperson
Item 03Attachment 01Attachment 02Attachment 03Attachment 04Item 4a - CalSTRS Independent Financial Statement Auditor Reports for the Year Ended June 30, 2024 - Basic Financial Statements, Required Supplementary Information, and OtherSupplementary Information for the Year Ended June 30, 2024
Item 04aAttachment 01Attachment 02Attachment 03Attchament 04
Item 4b - CalSTRS Independent Financial Statement Auditor Reports for the Year Ended June 30, 2024 - Other Pension Information – State Teachers’ Retirement Plan for the Year Ended June 30, 2024
Item 04bAttachment 01Attachment 02Attachment 03Presentation 01
Item 5 - 2024 Management Letter
Session: Open | Type: Information | Presenter: Julie Underwood / Cheryl Cervantes Dietz
Item 05Item 6 - Enterprise Risk Management & Compliance Services Maturity Plan Progress Report (18-Month Work Plan)
Session: Open | Type: Information | Presenter: Lynn Bashaw / Phil Burkholder / Meagan Dean
Item 06Attachment 01Attachment 02Presentation 01Item 7 - Education: Global Internal Audit Standards
Session: Open | Type: Information | Presenter: Cheryl Cervantes Dietz
Item 07Attachment 01Presentation 01Item 8 - Review of Information Requests
Session: Open | Type: Information | Presenter: Chairperson
Item 9 - Draft Agenda for the Next Committee Meeting
Session: Open | Type: Information | Presenter: Chairperson
Item 09Item 10 - Opportunity for Statements from the Public
Session: Open | Type: Information | Presenter: Chairperson
Item 1 - Approval of Agenda
Session: Open | Type: Action | Presenter: Chairperson
Item 01Attachment 01Item 2 - Opportunities for Statements from the Public
Session: Open | Type: Information | Presenter: Chairperson
Item 3 - 2023 Annual Cost & Collaborative Model Savings Report
Session: Open | Type: Information | Presenter: April Wilcox, Shifat Hasan, and Mike Dunigan
Item 03Attachment 01Attachment 02Attachment 03Attachment 04Attachment 05Presentation 01Item 4 - Chief Investment Officer’s Report
Session: Open | Type: Information | Presenter: Scott Chan
Item 04Attachment 01Presentation 01Item 5 - FY 2023-24 Global Investment Performance Standards (GIPS®) Asset Owner Report
Session: Open | Type: Consent Information | Presenter: Chairperson
Item 05Attachment 01Item 6 - Approval of Minutes of the September 25, 2024, Investment Committee Meeting – Open Session
Session: Open | Type: Consent Action | Presenter: Chairperson
Item 06Item 7 - Review of Information Requests
Session: Open | Type: Information | Presenter: Chairperson
Item 8 - Draft Agenda for the Next Committee Meeting
Session: Open | Type: Information | Presenter: Chairperson
Item 08Item 9 - Tactical Investment Strategy Discussion (Gov. Code, sec. 11126(c)(16))
Session: Closed | Type: Information | Presenter: June Kim, David Murphy, and Rob Ross
Item 10 - Investment Pacing Models: Managing Illiquid Portfolios (Gov. Code, sec. 11126(c)(16))
Session: Closed | Type: Information | Presenter: Mike DiRe, Robert Ross, Tom Baker, and Harmony Kingston
Item 11 - Confer with and Receive Advice from Legal Counsel Regarding Pending Litigation (Gov. Code, sec. 11126(e))
Session: Closed | Type: Information | Presenter: Brian J. Bartow
Item 12 - Director of Investment Services – Semi-Annual Compliance Report (Gov. Code, sec. 11126(c)(16))
Session: Closed | Type: Information | Presenter: April Wilcox and Shifat Hasan
Item 13 - Approval of Minutes of September 25, 2024, Investment Committee Meeting – Closed Session (Gov. Code, sec 11126)
November 7, 2024
Item 1 - Approval of Agenda
Session: Open | Type: Action | Presenter: Chairperson
Item 01Attachment 01Item 2 - Chief Executive Officer Report
Session: Open | Type: Information | Presenter: Chairperson
Item 02Attachment 01Item 3 - Adoption of Proposed 2025-26 Operating Budget
Session: Open | Type: Action | Presenter: Julie Underwood
Item 03Attachment 01Attachment 02Presentation 01Presentation 01Item 4 - State and Federal Legislation – Consideration of Board-Sponsored Legislation and Regulations
Session: Open | Type: Action | Presenter: Joycelyn Martinez-Wade
Item 04Attachment 01Attachment 02Item 5 - Review of CalSTRS Basic Financial Statements
Session: Open | Type: Information | Presenter: Art Martinez / Bankole Fatunla
Item 05Attachment 01Presentation 01Item 6 - 2024 Review of Funding Levels and Risk Report
Session: Open | Type: Information | Presenter: David Lamoureux / Rick Reed
Item 06Attachment 01Presentation 01Item 7 - Innovation Update
Session: Open | Type: Information | Presenter: Vaishali Dwarka / Jennifer Hall, Accenture
Item 07Presentation 01Item 8 - Diversity, Equity, and Inclusion (DEI) Assessment Update
Session: Open | Type: Information | Presenter: Kristel Turko, TJ Kochhar / Davita Vance-Cooks, Dr. Kim Turner, Aaron Brink-Johnson, Guidehouse
Item 08Presentation 01Item 9 - Pension Solution Project Update
Session: Open | Type: Information | Presenter: Ashish Jain, Anthony Suine / Chriss Cabodi, Guidehouse
Item 09Attachment 01Presentation 01Presentation 02Item 10 - Disclosure of Incentives for Statutory Positions for the 2023-24 Plan Year
Session: Open | Type: Consent Information | Presenter: Chairperson
Item 10Attachment 01Item 11a - Committee Reports
- Investment Committee
- Appeals Committee
- Audits and Risk Management Committee
- Benefits and Services Committee
- Board Governance Committee
Session: Open | Type: Consent Action | Presenter: Chairperson
Item 11b - Approval of Minutes of the September 24-26, 2024, Regular Meeting – Open Session
Session: Open | Type: Consent Action | Presenter: Chairperson
Item 11bItem 11c - Board Member Education
Session: Open | Type: Consent Action | Presenter: Chairperson
Item 11cItem 11d - Contracts Requiring Board Approval
Session: Open | Type: Consent Action | Presenter: Chairperson
Item 11dItem 12 - Items Referred by Committee for Board Decision
Session: Open | Type: Information | Presenter: Chairperson
Item 13 - New Business / Review of Information Requests
Session: Open | Type: Information | Presenter: Chairperson
Item 14 - Draft Agenda for Next Meeting
Session: Open | Type: Information | Presenter: Chairperson
Item 14Item 15 - Opportunity for Statements from the Public
Session: Open | Type: Information | Presenter: Chairperson
Item 16 - Approval of Minutes of the September 24-26, 2024, Regular Meeting – Closed Session (Gov. Code, sec. 11126)
Session: Closed | Type: Consent Action | Presenter: Chairperson
Item 17 - Committee Reports (Gov. Code, Sec. 11126)
- Investment Committee
- Appeals Committee
Session: Closed | Type: Consent Information | Presenter: Chairperson
Item 18 - Chief Executive Officer Briefing on Performance and Personnel Issues (Gov. Code, sec. 11126(a), (b), (g))
Session: Closed | Type: Information | Presenter: Cassandra Lichnock
Item 19 - Confer with and Receive Advice from Legal Counsel Regarding Pending Litigation (Gov. Code, sec. 11126(e))
Session: Closed | Type: Information | Presenter: Brian J. Bartow